Game Group shares fell a further 50% over the weekend

Discussion in 'User Submitted News' started by kicknhorse, Mar 12, 2012.

  1. kicknhorse
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    kicknhorse GBAtemp Fan

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    As per the title, Game Group Plc shares fell a further 50% over the weekend, on top of a 95% fall over the last year.

    Shares can now be purchased in the pennies, but of course, these would become worthless if they went into Administration.

    The whole of Game is apparently up for sale, despite only having interest in the Spanish and Portuguese stores from Gamestop.

    In a press release Game Group Plc warned shareholders that the stock could become worthless.

    Game's rent bill is due in 2 weeks time, and they are trying to find a buyer or make enough cash in order to pay up.

    As you have all seen, great deals have cropped up regarding pre-owned games, and this has extended into some new titles as well. According to hukd, you could buy a 320gb PS3 with Uncharted 3 and a blu-ray (all brand new) for just £149.99 over the weekend.

    A source is here;
    http://www.eurogamer.net/articles/2012-03-12-game-unsure-over-future-as-it-reportedly-puts-itself-up-for-sale

    Although, just typing in Game Group into any news search will bring up a load of results on the market data.
     
  2. FireGrey

    FireGrey Undercover Admin

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    Now would be a worthy investment for shares.
    Also is game group responsible for http://www.game.com.au/
     
  3. Pong20302000

    Pong20302000 making notes on everything

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    One's inner self
    used to work for GAME, never again.
    how they treat there staff is terrible

    shame because GameStation will be affected and there much better
     
  4. prowler

    prowler Sony

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    No it wouldn't, shareholders are getting out while they can.

    Also FYI, shares are 0.5p now.
     
  5. RupeeClock

    RupeeClock Colors 3D Snivy!

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    With the current economic climate in the UK this is the last thing we need, I hope they find a buyer.
    Suppose GAME is bought by Gamestop, they would also be buying Gamestation, but I don't know what to expect of those stores...
     
  6. FireGrey

    FireGrey Undercover Admin

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    Yes but that means they are very cheap.
     
  7. Skelletonike

    Skelletonike ♂ ♥ Gallant Pervert ♥ ♀

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    Shares are usually risky business, you could risk on it and buy a ton of shares, if they get bought up by another company like GameStop the shares will then increase, or some miracle might happen and the company manages to go back up.
    Either way, it's risky business, you might risk if u wanna.
     
  8. kicknhorse
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    kicknhorse GBAtemp Fan

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    The risk is that is Game Group went bust or into Administration you would lose everything. Though some consider just investing a small amount £10-100, just for a potential little profit, you usually need to pay admin fees for buying and selling shares.
     
  9. Qtis

    Qtis Grey Knight Inquisitor

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  10. FAST6191

    FAST6191 Techromancer

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    Wonder if anybody shorted them. I know I thought about it but hacking routers was a more interesting use of a weekend and with my current setup I would have had to go naked which I hate doing.
     
  11. FireGrey

    FireGrey Undercover Admin

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    I'm actually happy, because now the store can be changed to something good.
    Well I gotta go buy some gc controllers while I still can :P
     
  12. lostdwarf

    lostdwarf GBAtemp Maniac

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    these guys rip people off every single day. you can buy the same games in a superstore for much cheaper. they deserve to fall.
     
  13. RupeeClock

    RupeeClock Colors 3D Snivy!

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    It's not that simple. They don't sell anything other than video games, consoles and accessories, superstores however deal in so many goods that they are able to deal in some goods for cheaper.
    Where for GAME it was necessary to sell games at a somewhat higher price though, they needed to be a bit more to make it worthwhile for the gamers, Gamestation actually had a pretty nice customer rewards scheme going with points on purchases and trade-ins, I've probably saved about £20-25 using it without any sign-up charge.

    That's in the past though, if Gamestop takes over that will be replaced by store clerks trying to push the club card onto you as much as possible with any transaction, for only £10, a return you probably will not see until you've spend hundreds!

    But it needs to be more than that, what may have happened is that in getting greedy with used prices and general bad business tactics not in-line with thought of how a Games shop should be run, they suffered for it. Gamestation did absolutely fine by itself before it became part of GAME.
     
  14. GreatZimkogway

    GreatZimkogway Still a Touhou Fanatic

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    Hey...hey hey listen...you know that card....guess what! Others stores push those too! Didja know that? Didja? Speedway, Kmart, Best Buy, Target, think even some local places around here do it too! Even some push their credit cards! Didja know that? Didja know that what Gamestop is doing is nothing new or unique to them? It's required of them.

    Also, that $15 it costs...I can make that back in about one sale. Sell three games, get $5 extra per thing(yes, it happens, if I had the receipts, I'd prove it). And then $5 or so off a used game or two, and sudden the entire card is paid for. Plus the points you get(these are superficial, takes a lot of money to get any significant amount of points. But again, this isn't unique to them, I think Speedway's rewards points are worse and take insanely higher amounts.
     
  15. Hadrian

    Hadrian Better than Craigslist

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    They were just a really shit games retailer that for some reason got large enough to absorb better ones...only to make them shit. The people who work there mostly know nothing.

    *remembers when they were Future Zone & then Electronic Boutique*
     
  16. Hero-Link

    Hero-Link Hero of Derrr

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    i went to a GAME store here in Portugal today, they aren't having any bigs sales as mentioned..

    The only thing i saw worth buying that was REALLY CHEAP, was a box of Guitar Hero world tour for PC with two guitars for 20€ (with the game of course)
     
  17. pyromaniac123

    pyromaniac123 ส็็็็็็็็็็็็็็็็็็็(ಠ益ಠส็็็็็็็็็็็็็็็็็็็

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    http://www.google.co.uk/finance?q=LON%3AGMG

    Give it a week or two and it will be game over.
     
  18. tigris

    tigris Sentient Existential Anthropomorphic Sweet Potato

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    Seems like the GAME group are experiencing a mass effect of their own.
    But seriously, their staff suck.
     
  19. Gahars

    Gahars Bakayaro Banzai

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    It looks like they're learning too late that bankruptcy is no GAME.
     
  20. DSGamer64

    DSGamer64 Canadian, Eh?

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    A cold cold place
    Nothing different. Gamestop doesn't price match or do competitive prices, which is humorous because they are a corporation, but I have heard the excuse time and time again that they won't do it because they can't afford it.